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Black Hills BKH Return on invested capital

Return on invested capital at other companies

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Xcel EnergyXEL
4.7%-0.2pp
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EvergyEVRG
6.7%+0.2pp
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NorthWestern Energy Group, Inc.NWE
5.2%-0.8pp
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UnitilUTL
5.9%+0.3pp
PG&E logo
PG&EPCG
5.7%+0.5pp
Duke Energy logo
Duke EnergyDUK
5.7%+0.2pp

Other financials

Income statement

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Revenue$452.8M+3.1%
Operating income$97.0M+17.6%
Net income$38.2M+38.9%
EPS (diluted)$0.50+31.6%

Balance sheet

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Cash & equivalents$71.5M+783%
Total debt$4.1B+0.2%
Total equity$3.9B+8.5%
Total assets$11.0B+9.4%

Cash flow

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Operating cash flow$195.1M+3.4%
CapEx$218.1M-0.4%
Free cash flow-$23.0M+24.1%

Valuation

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Market cap$5.46B+25.4%
Enterprise value$9.47B+12.5%
P/E18.3×+2.9×
P/S2.4×+0.4×

Profitability

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Operating margin23.9%+0.4pp
Net margin13%+0.3pp
FCF margin-13.3%-27.7pp

Returns & leverage

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Return on equity7.9%-0.2pp
Debt / equity-0.1×
Current ratio0.5×-0.1×

Where this comes from

Calculated from Black Hills’s reported figures.

Based on trailing twelve months.

The source filing: Black Hills’s 10-Q, filed August 6, 2026. Open the filing →

Filed
Aug 6, 2026, 1:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-337444

FAQ

What is Black Hills's return on invested capital?
Black Hills (BKH) reported return on invested capital of 6.1% in Q2 2026.
How has Black Hills's return on invested capital changed year-over-year?
Black Hills's return on invested capital decreased by 3.3% year-over-year, from 6.3% to 6.1%.
What is the long-term trend for Black Hills's return on invested capital?
Over 5 years (2020 to 2025), Black Hills's return on invested capital has grown at a -1.4% compound annual growth rate (CAGR), from 6.2% to 5.8%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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